Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Merritt Island area can be challenging. Home prices in Merritt Island are now at a median cost of $313,884, higher than the Florida average of $278,762.
The average cost of rent is $1,317/mo in Merritt Island, primarily driven by the current value of real estate in the Merritt Island area. While nearly 41.04% of residents own their homes outright in Merritt Island, 17.50% rent.
Housing affordability isn’t just about home prices, though. The average household income in Merritt Island is $7,077 per month. Households that rent pay about 18.60% of their income on rent here. Merritt Island's most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Cocoa West, FL: less expensive homes
- Cape Canaveral, FL: less expensive homes
- Rockledge, FL: less expensive homes
- Cocoa Beach, FL: higher priced homes
- Cocoa, FL: less expensive homes
- Bellwood, FL: higher priced homes
- Port St. John, FL: less expensive homes
- Patrick Afb, FL: less expensive homes
- Wedgefield, FL: equally priced homes
- Pine Grove, FL: equally priced homes
Cities with Similar Populations
- Bear, DE: less expensive homes
- Woonsocket, RI: less expensive homes
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- West Bend, WI: less expensive homes
- Wentzville, MO: less expensive homes
- Vestavia Hills, AL: higher priced homes
- Sun Prairie, WI: less expensive homes
- Shenandoah, LA: less expensive homes
- Moses Lake, WA: less expensive homes
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